bid-rigging
In the latest session of Hong Kong's inquiry into the deadly Wang Fuk Court fire—which killed 168 and displaced nearly 5,000—Urban Renewal Authority officials admitted their tendering system cannot prevent market manipulation or bid-rigging in estate renovations, citing limited resources and a policy of non-interference in homeowners' choices.
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Hong Kong's Competition Commission has not ruled out links between at least two bid-rigging syndicates and renovations at Wang Fuk Court, the Tai Po estate destroyed in a fire. Executive director for legal services Lester Lee Hiu-leung told a judge-led committee on Thursday that law enforcement agencies will probe potential fraud in residents' selection of the HK$336 million Prestige proposal, the priciest among 57 bids.